https://www.taxtmi.com/caselaws?id=255160 The Tribunal upheld the CIT (A)'s decision to delete the addition to the assessee's income for a lower rate of gross profit declared, based on evidence and legal arguments presented. The CIT (A) also deleted additions made by the Assessing Officer under section 54 of the Income Tax Act, as investments in a new residential house were verified and deemed compliant. The Tribunal dismissed the revenue's appeals, affirming the CIT (A)'s decisions on both issues. en-us Fri, 12 Sep 2014 00:00:00 +0530 Fri, 09 Jan 2015 10:09:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255160 The Tribunal upheld the CIT (A)'s decision to delete the addition to the assessee's income for a lower rate of gross profit declared, based on evidence and legal arguments presented. The CIT (A) also deleted additions made by the Assessing Officer under section 54 of the Income Tax Act, as investments in a new residential house were verified and deemed compliant. The Tribunal dismissed the revenue's appeals, affirming the CIT (A)'s decisions on both issues. Case-Laws Income Tax Fri, 12 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255160